We Need A Law To Recognize And Combat Pyramid Schemes

By Chetan SanghviJanuary 4, 2018, 12:09 PM EST

Law360, New York (January 4, 2018, 12:09 PM EST) -- Concern about pyramid schemes has focused on the victimization of consumers. This is as it should be. But it should also be recognized that pyramid schemes damage legitimate businesses, which further damages consumers. The prevalence of fraud can create a fog of uncertainty and doubt that leads individuals to demur from participating in legitimate businesses. The antidote is to provide clarity and assurance. Establishing clear guidelines in law on what constitutes pyramid fraud, and promulgating safeguards against fraudulent practices, can help to clear the fog, prevent...

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